10th Sep 2020 18:03
Cairn Homes PLC - Irish housebuilder - Interim earnings slump amid Covid-19 related site closures. For half-year to June 30, revenue down sharply to EUR80.9 million from EUR192.4 million last year and pretax profit crumbles to EUR1.2 million from EUR21.8 million. Posts operating profit of EUR5.8 million from EUR27.3 million. Cairn Homes guiding for 2020 closed sales of 700 and operating profit of EUR20 million.
Separately, Cairn enters agreement to acquire former Esmonde Motors Garage premises and adjoining land located at Stillorgan Road in South Dublin from the Emerald Fund ICAV for an overall cash consideration amount of EUR14 million.
Current stock price: EUR0.805
Year-to-date change: down 36%
By Arvind Bhunjun; [email protected]
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